Asia’s naphtha crack spread eases on weak petrochemical margins

13 August 2012 10:16  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s naphtha crack spread drifted lower on Monday, easing from near three-month high levels in the previous session on the back of weak petrochemical margins, traders said on Monday.

The crack spread for September narrowed to $96.60/tonne (€78/tonne), down 3.1% from $99.65/tonne achieved on Friday.

Open-spec naphtha prices in Asia rose by $4.00/tonne from Friday’s close to $947.00-949.00/tonne CFR Japan on Monday, tracking higher global crude futures stoked by heightened geopolitical tensions in the Middle East.

Meanwhile, northeast Asian ethylene margins fell by $155/tonne in the week ended 10 August to minus $23/tonne – a nine month low, according to ICIS Weekly Margin report.

($1 = €0.81)

By: Felicia Loo

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index